Captrust Financial Advisors Sells 386 Shares of Sonoco Products (NYSE:SON)

Captrust Financial Advisors reduced its stake in shares of Sonoco Products (NYSE:SON – Free Report) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,951 shares of the industrial products company’s stock after selling 386 shares during the quarter. Captrust Financial Advisors’ holdings in Sonoco Products were worth $1,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Sonoco Products by 13,464.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,980,297 shares of the industrial products company’s stock worth $100,441,000 after acquiring an additional 1,965,698 shares during the last quarter. Private Management Group Inc. bought a new stake in Sonoco Products in the third quarter worth about $24,994,000. Charles Schwab Investment Management Inc. boosted its position in shares of Sonoco Products by 50.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,029,166 shares of the industrial products company’s stock valued at $56,223,000 after buying an additional 344,658 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sonoco Products by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,631,259 shares of the industrial products company’s stock valued at $133,465,000 after buying an additional 261,062 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Sonoco Products by 80.8% during the second quarter. AQR Capital Management LLC now owns 555,575 shares of the industrial products company’s stock valued at $28,179,000 after buying an additional 248,236 shares during the last quarter. 77.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SON has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on Sonoco Products from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Robert W. Baird cut their price target on shares of Sonoco Products from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Truist Financial assumed coverage on shares of Sonoco Products in a report on Tuesday, November 26th. They set a “buy” rating and a $63.00 price objective for the company. Finally, Wells Fargo & Company downgraded shares of Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $54.00 to $52.00 in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.00.

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Sonoco Products Stock Up 0.6 %

Shares of Sonoco Products stock opened at $51.23 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.36 and a quick ratio of 1.91. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.14 and a beta of 0.67. The firm’s 50-day moving average is $52.12 and its two-hundred day moving average is $53.28. Sonoco Products has a 1 year low of $48.22 and a 1 year high of $61.73.

Sonoco Products (NYSE:SON – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.72 billion. Sonoco Products had a net margin of 4.38% and a return on equity of 19.92%. Sonoco Products’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. As a group, research analysts expect that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, November 8th. Sonoco Products’s dividend payout ratio (DPR) is currently 71.48%.

Sonoco Products Company Profile

(Free Report)

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.